Beazley and Lancashire lead green week for Euro-listed P&C stocks
London-listed Beazley saw its shares climb almost 15 percent over last week’s five day trading period to lead a widespread green week for The Insurer’s universe of European-listed carriers.
Axa shrugs off pandemic fears to lead rally in Euro-listed P&C stocks
Shares in Axa Group climbed over 5 percent in morning trading to lead a jump in European (re)insurance stocks on Wednesday which extended gains made yesterday as investors focused on the phased reopening of the economy.
Lloyd’s wins court approval for Part VII Brexit transfer
Lloyd’s of London has received approval from the High Court of England and Wales for its Part VII strategy for notifying policyholders about the proposed transfer of its existing European business to Lloyd’s Brussels.
Irish insurer FBD faces business interruption court test case
Irish insurer FBD said it will wait for the result of a test case in October before it decides whether to pay out on 700 claims for business interruption made against it in connection with the pandemic.
Ferma calls for pan-European systemic risk reinsurer
As European countries examine creating their own future pandemic reinsurance solutions, the continent’s Federation of European Risk Management Associations (Ferma) has called on the European Commission to create a EU-wide resilience framework for catastrophic risks such as epidemics, terrorism and cyber.
WTW offloads financial advisory arm to Nordic Capital
Willis Towers Watson is selling its Swedish financial advisor, Max Matthiessen, to private equity firm Nordic Capital for an undisclosed sum.
US futures fall as global P&C stocks slip on US-China tensions
US equity futures slipped ahead of the open on Friday as investors faced an escalation in tensions between the US and China.
Jefferies warns on lack of retro in Hannover Re’s credit and surety book
Investment bank Jefferies has warned that the lack of retrocessional cover in Hannover Re’s credit and surety book may prompt earnings downgrades in the second quarter as Covid-19 exposures bite despite the German carrier standing apart as “relative safe haven” during the equity market turmoil.
AM Best removes Covéa from under review after PartnerRe deal collapses
Covéa has had its ratings removed from under review with developing implications by AM Best following the collapse of the French mutual’s planned acquisition of the Exor-owned PartnerRe.
Allianz names Richter to lead Cyber Center of Competence
Allianz Group has appointed Catharina Richter as global head of its cyber center of Competence (CoC), succeeding Emy Donovan who had left the firm last year.
NN Life transfers Eur13.5bn of longevity risk to Canada Life, Munich Re & Swiss Re
NN Group subsidiary NN Life has completed three longevity reinsurance transactions with reinsurers Canada Life, Munich Re, and Swiss Re, transferring the full longevity risk associated with Eur13.5bn ($14.8bn) of pension liabilities in the Netherlands.
Allianz chief Bäte proposes risk-pooling insurance scheme for pandemics
Allianz chief executive Oliver Bäte has proposed the idea of a risk-pooling insurance scheme to cover business interruption (BI) losses from a future pandemic event, The Insurer has learned.
US equity futures slip as Euro P&C stocks try to hold early gains
US equity futures slipped ahead of the open on Tuesday following big gains on Wall Street a day earlier while European (re)insurance stocks retreated in morning trading as investors assessed hopes for a rebound in economic activity in the coming months.
Beazley down 15% in turbulent week for European P&C stocks
In what proved to be another volatile week for European P&C stocks, shares in London-listed Beazley shed over 15 percent of its value over the five day trading period to lead a renewed sell-off across The Insurer’s universe of European-listed carriers.
Allianz names Berry as chief risk officer
Allianz has named John Berry as chief risk officer for Allianz Holdings and Allianz Insurance.
European (re)insurance stocks rise on lockdown optimism
European (re)insurance stocks made a modest recovery in early trading after a sharp drop on Thursday with investors buoyed by Chinese growth data and renewed optimism over the easing of lockdowns across the continent.
Hiscox shares dip 6% to lead European P&C sell-off
Shares in London-listed Hiscox closed almost 6 percent lower on Thursday to lead a renewed sell-off among European (re)insurance stocks as investors responded to rising US jobless totals and further uncertainty over the coronavirus impact on the global economy.
European sell-off continues on worries over speed of recovery
US equity futures edged lower and European stocks declined on Thursday as investors awaited the latest American jobless data after another steep sell-off on Wall Street.
Zurich pegs 2020 Covid-19 loss at $750mn; reinsurance unlikely to engage
Swiss powerhouse insurer Zurich has reported a jump in P&C gross written premiums of 7 percent to $9.68bn in the first quarter, with the division also booking $280mn of current claims related to the ongoing Covid-19 pandemic.
US futures edge higher as European (re)insurance stocks dip
US equity futures edged higher ahead of the open on Wednesday as investors awaited key comments on interest rate policy from Federal Reserve chairman Jerome Powell.